Equity Group, Kenya’s largest bank by market capitalization, has reported a strong 12.5% growth in net profit for H1 2024, achieving a Profit after Tax of Kshs.29.6 billion. This solid performance comes despite challenging macroeconomic conditions, including high interest rates and volatile exchange rates across the regions where the Group operates.
One year after the launch of Uber Electric Boda in Africa, Uber has seen remarkable growth, with an 81% increase in active driver sign-ups. This surge reflects the affordability and appeal of the electric mobility product for Nairobi residents, leading to a 94% increase in trips since its introduction in August 2023. Uber Electric Boda, managed by Greenwheels Africa, represents a significant step towards Uber’s global goal of becoming a zero-emissions platform by 2040.
Safaricom has achieved a significant milestone with the expansion of its 5G network, now reaching 1,114 sites across Kenya. This ambitious growth is part of the company’s broader strategy to provide ultra-speed internet to Kenyans, positioning the country at the forefront of digital transformation. The 5G network, which covers 14% of Kenya’s population, spans 102 towns, connecting more than 780,000 active smartphones.
Safaricom Ethiopia has reported a significant increase in its customer base, growing by approximately 250,000 subscribers to reach 4.6 million by the end of Q2 in July. This growth reflects the company’s aggressive expansion strategy and efforts to increase its market presence. As of the end of June 2024, Safaricom Ethiopia had 4.6 million three-month active customers, with one-month active customers totaling 3.4 million.
The Impact for Northern Kenya (INK) Fund, financed by USAID Kuza, has significantly impacted over 12,000 micro, small, and medium-sized enterprises (MSMEs) in the region. This $43 million fund, launched in 2021, aims to drive economic growth and empower underserved populations in northern Kenya’s counties. It has also been pivotal in creating over 25,000 direct…
MTN Group, Africa’s largest telecom provider, is exploring significant investments in neuroscience to enhance its talent management strategies. According to Paul Norman, MTN Group’s Chief Human Resources Officer, as organizations face continuous disruptions, evolving and adapting becomes crucial. He emphasized that deep collaboration, human cognition, and values-based practices are vital areas where neuroscience will play a transformative role.
AXIAN, a leading pan-African telecommunications firm, has appointed Hassan Jaber as its new CEO, effective August 19, 2024. Jaber takes over from Stéphane Oudin, who will transition to an advisory role, supporting both the chairman and the board of AXIAN Telecom’s operating companies. Oudin will continue to contribute to the growth and governance of the Group and its units.
Jerry Shikhule has been appointed as the Business Development Director for East Africa at Bluechip Technologies. In this new role, Shikhule will spearhead the CIT VERICASH business across the East African region, driving significant growth and innovation. His extensive experience and proven track record make him a valuable asset to the team.
